H&M Sales Up 4% for April

Stockholm–H&M has posted a 4% increase in sales during April, compared to the same month last year. The retailer, which employs 76,000 worldwide, saw same-store sales decline 6% though.

Its number of stores amounted to 2,037 on April 30, 2010, versus 1,804 on 30 April 2009. The store is planning to open 240 additional stores this year. Recently, Karl-Johan Persson, ceo, indicated that the company is eyeing its first stores in the Southern Hemisphere, particuarly Brazil, Argentina and Australia. Already, its chief competitor, Inditex, which owns Zara and Bershka, has stores in South America. However due to seasonal differences with Southern Hemisphere, Persson says the company is developing supply and distribution strategies that would enable it to expand in the region. India is also another possible market to expand, too.